A transaction refers to the exchange of value between two parties using currency and services as a medium. In the blockchain, a transaction is a digital record that broadcasts transaction data in the entire network through the blockchain network, announcing the transfer of ownership of encrypted currency, and confirming and verifying the transaction through the consensus mechanism in the entire network, making the transaction irreversible and preventing tampering.
In common currency, the main types of transactions are sending currency units or tokens to others, while in other systems, such as domain name registration, offering, and completing the offer,and contracts establishment are also valid types of transactions.
Transaction conditions
In the transaction, the required conditions are different, such as the sender's Base58 account, the receiver's Base58 account, the transaction amount, the staked amount, the account for unlocking the staked amount, tand the transaction for unlocking the staked amount, etc. Our transaction process is very simple for external users and is suitable for user operations. The specific details are as follows:
Types of transactions
Transaction is the only way to interact withthe blockchain network, including the release of assets, transfer, deploying smart contracts, contract invocation, etc.,are all operations based on transactions.
Ordinary transaction
Like a real-life transaction, using blockchain transactions to transfer funds is not much different. Once a transfer is sent successfully, a transaction is completed. It is worth noting that to enable users to sign for others actively and increase the speed of blockchain transactions, a handling fee will be charged, but the gas fee will be directly destroyed and deposited into an address that can never be retrieved.
After the transaction, part of the utxo of the account will be transferred to the recipient's account. Generally, when making a transaction, you need to enter the Base58 of the sender, the Base58 of the recipient, and the transaction amount.
Staking transaction
In the blockchain, we need to stakea certain amount of coins to join the network,in order to avoid user volatility and ensure stability. The staked coins can be unstaked after a certain period of time. The staked amount is 1000 TTOS, and the staked amount will be transferred to a special account. When staking, you simply need to enter the staking amount.
That's all for now, stay tunned
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